FINANCIAL PLANNING SERVICES

Tax Minimisation Strategies

Throughout your professional or business journey, you’ll likely earn millions of dollars. Unfortunately, a significant portion of those earnings will also go towards taxes. Your hard-earned money deserves a smarter approach.

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Maximising your money through tax minimisation strategies

Tax minimisation strategies encompass a comprehensive set of tactics and approaches designed to legally and ethically reduce the amount of taxes an individual or business is obligated to pay. These strategies leverage the intricacies of Australian tax laws, regulations, and incentives to optimise your financial position.

These strategies could be as simple as putting more into super, or as complex as reorganising your business structures. Either way, a solid plan could help you retain more of your hard-earned money and save you thousands, or possibly millions, in future tax dollars.

Why you need a tax expert

Navigating the intricacies of taxes can be overwhelming, and the array of strategies to minimise them span a wide spectrum. There are likely many tax strategies that can be tailored to the unique circumstances that you are unaware of.

Just like you’d rely on a mechanic for your car or a medical expert for your health, an accountant is your tax specialist.  They handle comprehensive strategic tax advice, from simple steps like maximising deductions on your tax return to securing your family’s financial future.

Minimise tax with Financial Spectrum

Our team of in-house chartered accountants is poised to streamline your financial matters effortlessly. From expert tax and business advisory to safeguarding your wealth through trusts and asset protection strategies, we cover it all.

As life shifts, our tax experts adapt strategies. Whether moving from permanent employment to contracting, reorganising business structures, or transitioning to retirement, an effective plan has the power to potentially save you substantial future tax payments.

How we work with you

Our team of accountants invest the time to get to know you, your business and what you want out of life in the future. We take holistic approach to all facets of your life and presents creative, out of the box solutions to give you a financial edge.

If you also work with Financial Spectrum’s financial advisors, we streamline your financial management, making it both more straightforward and cost-effective. By strategically navigating the tax landscape, we can help you retain more of your hard-earned money and grow your wealth.

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Having worked in the financial services industry myself, I sought a Financial Planner who had the analytical and problem solving creativity skills that I was in need of with a strategic and holistic approach. Given the extent of conflict of interest in the Financial Planning industry, it was a relief...
Janar, NSW
I had the pleasure of meeting Greg from Financial Spectrum, who impressed me with his professionalism and attentive listening skills. He provided invaluable insights into the intricate web of financial decision-making, which ultimately enabled me to purchase my first home. I'm thrilled about the prospects of my future, and I...
Elisabeth, Sydney
I was referred to Financial Spectrum by my long term accountant. We knew that we needed to get strategic help and to put some structure to our finances. Financial Spectrum collaborated with us to develop well-defined goals and a financial strategy to match. The Financial Spectrum team is extremely knowledgeable,...
Richard, Sydney
Brenton and the team at Financial Spectrum are genuine honest and friendly financial planners if you're in need of any advice on your finances.  Do not hesitate to contact Brenton. He takes the time to ask you questions first, rather than rushing you like most other planners do!  I took...
KD, Sydney
We were referred to a financial planner at Financial Spectrum by a friend of ours. We are so glad that we contacted them. We can honestly say that booking that first appointment was a turning point in our lives.
Patrick and Louise, Sydney
Our Financial Planner seems to know everyone and have a fair grasp of everything financial. Having spoken with innumerable financial advisors over the years, he is the only one that we had confidence in. As well as being an expert in his field, he is also a great guy making...
Chris, Sydney

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I have been extremely happy with the service Financial Spectrum has provided. I would gladly recommend them to anyone wanting a truly talented group of financial planners on their side.
Sam, NSW
Brenton's guidance and an "always on" service approach has been absolutely fantastic for my family and I. His friendly, proactive and strategic advice is always clearly explained and backed up by his support team who have been impeccable in looking after our requirements. I would recommend talking to them for...
Luke, Sydney
I can already see why you and your colleagues at Financial Spectrum have the customer reviews you do, and I imagine it only gets more impressive from here on out.
Heidi, Sydney
Brenton Tong was a huge help managing the financial aspects of our relocation to Australia. Professional honest advice from transferring money to purchasing our home.  Brenton was there to advise us through each step making this transition seamless and worry free. Thank you, Brenton, your advice was very much appreciated....
Fran and Kevin, Perth
We cannot thank you enough for your fantastic investment advice. We could not have imagined four years ago that our $40,000 investment would now be worth $250,000. Thank you to our financial planner!
Sid and Melanie, NSW
I've talked to quite a few financial advisor's over the years, but Brenton and his team have given me the best advice, and their passion really shines through. The team's knowledge is second to none!
George, Sydney

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Frequently asked questions

Absolutely. Tax rules can be intricate, and there are often deductions you might not be aware of. For example, certain job-related expenses or investments can be tax-deductible. A tax accountant specialises in these details. They know the ins and outs of deductions and credits, working to maximise your return. With their expertise, they uncover hidden expenses and tailor your claim to your situation, potentially resulting in thousands more back in your pocket.

The ATO has an eye on cryptocurrency investors so it’s worth seeking an accountant to get advice on structure, e.g. whose name you should invest in, what structure you should invest in, and whether you use savings or borrow to invest. The long-term tax difference between the various options can result in thousands (or millions) in taxes.

With an accountant, your lodgement deadline extends, aiding cash flow. Self-lodgers face an October 31 deadline, but with an accountant, you usually have until May 15. Late tax returns attract penalties.  The ATO may issue a formal default assessment warning letter, which will likely make you worse off as it will not include most of the deductions you’re entitled to.

Doing your own tax return means full responsibility.  Even small mistakes expose you to fines, penalties and interest if you get audited. A tax accountant can not only help you get a larger tax refund but also offers peace of mind. A professional tax accountant ensures accurate compliance with tax laws, granting you reassurance if you’re audited.

One of the simplest ways to avoid an ATO audit, or to ensure everything goes smoothly if you are audited, is to use a tax accountant. It’s a tax accountant’s job to know what you can and can’t claim, complete the forms and advise you accordingly. While they guide you, it’s still up to you to provide accurate details, including transparent deductions and complete income declaration.

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